The 1 GHz HTC One V is Virgin Mobile’s Cyber Monday special. At $49.99, it’s the lowest price we’ve ever seen for the prepaid phone.

The One V is a scaled down version of the EVO V, a derivative of HTC’s One mainline family of devices. The One V lacks WiMAX, and has less memory (512 MB). That latter one is important, because HTC has stated that devices with less than 768 MB of RAM will not be upgraded to Android 4.1, Jelly Bean.

HTC has not yet stated if the EVO V will be upgraded, however, only that the device must have 768 MB of RAM to be considered for an upgrade. HTC based this move not on Android requirements (we’ve seen Jelly Bean run on 512 MB just fine), but on that HTC adds adaptations such as HTC Sense, which require additional memory.

Still, even if stuck forever on Android 4.0, the HTC One V is a killer device for under $50. We expect this sale to run out quickly.

Previously we’ve highlighted the One V as being a capable device to take on the (overpriced) iPod touch. With iPod touch 5G demanding $299 for the entry-level model, Apple is clearly trying to diminish the product line’s prominence, in order to bolster iPhone and iPad mini sales. For $50, the One V delivers nearly all the same features, and even some all iPods lack (such as built-in GPS, and the ability to sideload apps outside of Apple’s walled garden).

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